Bank strike today? Bank unions have postponed their planned nationwide strike for March 24 and March 25 following constructive assurances from the Indian Banks’ Association (IBA) and the Finance Ministry regarding their demands, including a five-day workweek.
The United Forum of Bank Unions (UFBU), representing nine bank employees’ associations, made this decision during a conciliation meeting with the Chief Labour Commissioner.
The unions sought immediate withdrawal of recent Department of Financial Services (DFS) directives regarding performance reviews and performance-linked incentives, expressing worries about employment security and staff unity.
“IBA has proposed further discussions on recruitment, PLI, and other key issues. The Chief Labour Commissioner has assured direct monitoring of the five-day banking implementation,” said C H Venkatachalam, General Secretary of the All India Bank Employees Association (AIBEA), according to a PTI report.
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AIBEA belongs to UFBU alongside other organisations including the All India Bank Officers’ Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers’ Association (AIBOA), and the Bank Employees’ Confederation of India (BEFI).
According to PTI, the next hearing is set for April 22, where IBA must present a progress report on UFBU’s demands.
Currently, all scheduled and non-scheduled banks observe holidays on second and fourth Saturdays, Sundays, and designated regional and national holidays.
The Reserve Bank of India (RBI) annually updates and publishes the official holiday list on its website. While national holidays (Republic Day, Independence Day, Gandhi Jayanti) apply across India, regional holidays differ according to state government declarations.
During bank holidays, whilst physical branch operations cease, online banking services, ATMs, and mobile banking remain operational.
